Franklin Retirement Advantage 2045 A (PALGX)

Fund Assets	27.32M
Expense Ratio	0.81%
Min. Investment	$500
Turnover	22.00%
Dividend (ttm)	0.46
Dividend Yield	3.62%
Dividend Growth	-15.26%
Payout Frequency	Annual
Ex-Dividend Date	Dec 30, 2025

Previous Close	12.78
YTD Return	6.22%
1-Year Return	8.05%
5-Year Return	49.05%
52-Week Low	11.60
52-Week High	13.58
Beta (5Y)	0.85
Holdings	3
Inception Date	Sep 1, 2020

About PALGX

Putnam Retirement Advantage 2045 Fund Class A is a target-date mutual fund designed primarily for individuals planning to retire around the year 2045. The fund's core objective is to provide both capital appreciation and current income by dynamically adjusting its asset allocation strategy as the target retirement date approaches. Initially, the fund focuses on growth by investing heavily in equities, and over time, it gradually shifts toward a more conservative mix with an increased proportion of fixed income and income-generating assets. This glide path approach aims to balance long-term growth potential with risk reduction closer to retirement. The fund invests through a diversified portfolio of underlying Putnam mutual funds, giving exposure to various asset classes and sectors. This structure enables broad diversification and risk management throughout different market environments. Putnam Retirement Advantage 2045 Fund Class A is commonly used as a core holding in employer-sponsored retirement plans or IRAs, serving individuals seeking a professionally managed solution that automatically adapts to their changing investment needs over a multi-decade horizon. The fund is backed by Franklin Templeton Investments and emphasizes long-term planning for future retirees.

• Fund Family: Franklin Templeton Investments
• Category: Target-Date 2045
• Performance Rating: High
• Risk Rating: Low
• Stock Exchange: Nasdaq
• Ticker Symbol: PALGX
• Share Class: Class A Shares
• Index: S&P Target Date To 2045 TR

Performance

PALGX had a total return of 8.05% in the past year, including dividends. Since the fund's inception, the average annual return has been 11.15%.

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
PAFMX	Class R6 Shares	0.45%
PAFJX	Class Y Shares	0.55%
PAFZX	Class R Shares	1.20%
PAFPX	Class C Shares	1.55%

Top Holdings

99.98% of assets

Name	Symbol	Weight
Putnam Dynamic Asset Allocation Growth Fund, Class P	n/a	86.42%
Putnam Dynamic Asset Allocation Balanced Fund, Class P	n/a	10.94%
Putnam Short Term Investment Fund, Class P	n/a	2.61%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 30, 2025	$1.4042	Dec 30, 2025
Dec 31, 2024	$0.614	Dec 31, 2024
Dec 29, 2023	$0.256	Dec 29, 2023
Dec 30, 2022	$1.024	Dec 30, 2022
Dec 31, 2021	$1.768	Dec 31, 2021
Dec 31, 2020	$0.137	Dec 31, 2020

Data Sources: Tiingo, Twelve Data, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Twelve Data. Several fund data points are also provided by Finnhub.

Last checked:

Nov 9, 2026

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